EU Vows To Push Back Against Expected US Tariffs

(MENAFN- Kuwait News Agency (KUNA)) BRUSSELS, April 1 (KUNA) -- European Commission President Ursula von der Leyen said on Tuesday that Europe did not choose "confrontation" with the US over the wide-ranging tariffs expected this week, emphasizing that the EU has "the strength to negotiate and the power to push back."
In a plenary session at the European Parliament, von der Leyen stated that the EU still hopes for a "negotiated solution" to the wide US tariffs expected this week.
Von der Leyen warned that "tariffs across the board make things worse, not better" and will only fuel inflation, as "American factories will pay more for components produced in Europe," stressing that this will cost jobs and "create a bureaucratic monster of new customs procedures."
She confirmed that the EU would adopt a negotiation plan "from a position of strength," given that it holds many cards to use in the negotiations. However, she emphasized that "this strength is also built on our readiness to take firm countermeasures."
She added that the EU will continue to diversify its trade with other partners. She also pledged to double efforts in the European Single Market, which she considered "the cornerstone of European integration and a strong catalyst for growth, prosperity, and solidarity."
She said that she would work to remove the internal barriers of the European market, which are equivalent to tariffs of 45 percent on manufacturing and 110% on services.
US President Donald Trump is expected to announce tomorrow, Wednesday, which he has called "Liberation Day," a number of massive tariffs on countries that impose tariffs on American goods. The US administration has so far announced a 25 pct increase in tariffs on imports of steel, aluminum, cars, and car parts. (end)
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